Tees Valley EZ Overview by hvTMh48

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									EZ Summit
7 December 2011
Linda Edworthy, Director of Policy and Strategy, TVU
         Tees Valley EZ Approach
• Why and what
• How:
   – Minimising displacement
   – A government and locally funded approach
   – Governance
   – Investment Fund Model
   – Marketing
   Driving Forward Economic Growth
■ Statement of Ambition
   - Ambition 1 – Transition to High Value Low Carbon Economy

   - Ambition 2 – Create a more Diverse and Inclusive Economy
http://www.teesvalleyunlimited.gov.uk/business_plan.html

Business Plan

   - Objectives over 4 year period – Objective 1

   - Priority Actions over next 12-18 months – Action 1
Driving Forward Economic Growth cont

■   Regional Growth Fund Bids

■   Relationship/Engagement with Business

■   Enterprise Zone
            Enterprise Zone Proposal
■ Original proposal
■ Agreed proposal
    - Business Rate Discount Sited
    - £55000 discount per annum for 5 years
    - occupation before March 2015
    - Tees Valley funded sites
■   Enhanced Capital Allowance Sites
    - plant and machinery allowance up to £100m
    - allowance against corporation tax liability
■   Governance and Planning Issues to be resolved
■   Investment mechanism
         Minimising Displacement
■ Sector focus and sector definitions
■ Use of simplified planning incentive
■ Requirement for Business Growth Plans
■ Test for eligibility
■ Through the governance mechanisms
Process for considering Eligibility of Business for Simplified
                    Planning and BRR
Governance Structure
Investment Fund Model
       Marketing and communications
•   A managed programme of EZ communications
•   Outline campaign developed
•   Bespoke EZ website
•   Site familiarisation events
•   Single telephone and email contact for EZ enquiries
Linda Edworthy
Director of Policy and Strategy, TVU
Tel: 01642 527092 / 07825931225
linda.edworthy@teesvalleyunlimited.gov.uk

								
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